NBA signs agreement with PointsBet
Online bookmaker PointsBet recently signed a multi-year partnership with the NBA, becoming the first official sports betting partner of a US professional sports league. As the Australian company continues to expand rapidly, here's a closer look at this momentous deal.
Predicting Match Outcomes with Win Probability Metric
PointsBet, an up-and-coming online bookmaker, has partnered with the NBA. As an authorized sports betting partner, they'll have access to all official NBA betting data and will be permitted to use league brands and logos on their digital betting platforms. Additionally, PointsBet will integrate a first-ever "win probability metric" on certain NBA platforms like the NBA.com website and NBA social media channels. This proprietary technology will provide fans with real-time insights into predicted game outcomes using the same analytics and statistics used in PointsBet sports betting. The NBA and PointsBet also plan to collaborate on best practices to protect the league's integrity.
A Major Step for PointsBet in the US Market
PointsBet's US presence has grown significantly since sports betting was legalized in May 2018. In 2019, the number of registered US players increased from just 35 to 21,141. According to Johnny Aitken, Managing Director of PointsBet USA, "the PointsBet team is thrilled to be working with a league as savvy and forward-thinking as the NBA, and we look forward to providing fans with the best possible gaming experience by introducing PointsBet's proprietary win probability metric."
Scott Kaufman-Ross, Vice President and Head of Gaming at the NBA, also welcomed the partnership, stating, "we're delighted to partner with PointsBet, which is establishing its first business in the US sports leagues and will continue to build across the US."
This agreement marks the first betting deal of the year for the NBA, which previously partnered with DraftKings in November. Last October, the NBA signed contracts with the London bookmaker William Hill and Tabcorp, giving Tabcorp the NBA's broadcasting rights for its in-house TV channel, Sky Channel.
Record Growth for PointsBet
PointsBet has seen significant growth in recent years, especially after presenting their quarterly figures for 2019. The company reported a staggering 169% increase in turnover compared to the previous year, with revenue skyrocketing from $110.6 million (~€101.7 million) to $297.3 million (~€273.5 million), and net revenue rising by 117% year-on-year to around $18 million (~€16.5 million). This growth is attributed to increased investment in the Australian and US markets, leading to a jump in customers in Australia from 45,828 to 81,014.
Expanding Further into the US Market
With the NBA partnership, PointsBet's US business is poised to continue expanding. Their current revenue from operations in New Jersey and Iowa total $112.5 million (~€103.4 million). In a bold move, they recently announced an agreement with the Lac Vieux Desert Band of Lake Superior Chippewa Indians in Michigan. The 20-year partnership will see PointsBet launching mobile sports betting offerings and a branded product for tribal members, potentially expanding to the state's retail market in the future. And, the company has also disclosed plans to expand into Kansas through the Kansas Crossing Casino, where they plan to offer retail and online sports betting if they obtain a license.
This partnership with the NBA is expected to have a positive impact on these planned expansions.
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Source: www.onlinecasinosdeutschland.com
